This Time It’s not about Consumers Solely
Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » This Time It’s not about Consumers Solely

This Time It’s not about Consumers Solely

Updated: December 25, 2012

Add to Favorites:

If there are market transaction dispute, if there are retail services uncertainties, if there are incongruence and fraud when it comes to purchasing and payment processes we normally think that the victims in all of these cases are the consumers.

On the television, radio, newspaper or internet there are always going to be concerns addressing and uplifting the consumers' rights and privileges. To protect the majority-mainly consumers-laws are pass to heighten their protection. Consumers are important and so they are protected however not all the time they are the victims.

Now that online transaction has deeply rooted itself in today's market economy. Almost all the possibilities were open not only that you can make orders through the internet but also you can arrange payments through it.

There are a lot of changes in the world of market economy nowadays. The face to face interaction between the one who buys and the one who sells is necessitated by the purchasing process, it is easier then to identify if the person who buys can really afford the product and if the person who sells can really provide the product. However most of the transactions made are not done face to face rather it is done through online processing. The problem comes with the payment using credit cards.

When it comes to credit card fraud we might as well see credit card holders as the sole victims in the process but reality says otherwise. Online merchants suffer to greater extent. Credit card holders when victimized by fraud can pursue reversal to whatever transaction was made using their account. In fact 90 per cent of credit card holders who happened to be victims of credit card fraudulent incidents are reimbursed.

Online credit card fraud especially in doing payments is really challenging the world of online transaction. Both the buyers and the sellers are ending up being victims moreover mistrust between them is growing.

The first problem is on how buyers can be assured that the information he/she will be disclosing online will be handled by authorized personnel only. For the customers privacy of their data needed to complete the transaction must be prioritized.

The second problem comes from the merchant's concern. When victimized by credit card fraud, 75 per cent of online merchants needed to deal with the costs involved. For airline retailers, the assurance that the buyers are making legitimate and valid transaction is primary.

Why we rarely hear about online retailers stories about how bad it is when they become victims of credit card fraud is because most refuse to disclose fraud figures since it can be a reason for customers to lose confidence to do transactions with them.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Other Cardholder Benefits Research:

Related Research:

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading